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Ghana Inflation January 2024

Ghana: Inflation accelerates in January

Inflation increased to 23.5% in January from December’s 23.2%. January’s reading was the highest inflation rate since November 2023. Looking at the details of the release, clothing and footwear prices rose at a quicker pace in January compared to the previous month, and price pressures for transport picked up pace.

Still, the trend pointed down, with annual average inflation coming in at 36.7% in January (December: 39.2%).

Lastly, consumer prices increased a seasonally adjusted 2.00% over the previous month in January, picking up from the 1.16% rise recorded in December. January’s result marked the highest reading since July 2023.

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